Friday , December 9, 2022

A Boon for Embedded Finance And Other Digital Transactions News briefs from 11/22/22

  • Revenue from global embedded financial services will exceed $183 billion by 2027, up from $65 billion in 2022, according to a report from Juniper Research. It classifies embedded finance as when financial services, such as banking, insurance, or lending, are integrated into non-financial user experiences.
  • American Express Co. released a personal card application tool that will check if an individual is eligible for an AmEx card without affecting their credit score.
  • Fintech PayZen announced a $220 million funding round that includes $20 million in equity financing and a $200 million credit line. PayZen, which focuses on health care, will use the funds for market expansion.
  • Corpay, a business-payments provider, said it was named the official global foreign-exchange payments provider for the World Baseball Softball Confederation. Corpay is a unit of payments platform Fleetcor Technologies Inc.
  • A fintech called Bump said it is working with Highnote, a card-issuance platform, to launch the Bump Creator Card, a Mastercard Inc.-branded card aimed at content creators.
  • Disbursements fintech Onbe named Brent Coles its chief financial officer. Coles most recently was CFO at Clearent. Onbe also named Suresh Kumar chief technology officer. He worked at Fiserv Inc. for 21 years prior to joining Onbe.

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